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POINTERRA LIMITED — Regulatory Filings 2015
Feb 5, 2015
64255_rns_2015-02-05_55ecabdd-ff5a-444b-82dc-faf57533971f.pdf
Regulatory Filings
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ASX:SOI
6 February 2015
Sebastian Bednarczyk Senior Adviser Listings (Perth) Level 40, Central Park 152-158 St Georges Terrace Perth WA 6000
Dear Sebastian,
RE: Appendix 4C response – Soil Sub Technologies Limited (the “Company”)
Please find below the Company’s responses to ASX’s queries regarding the Company’s Appendix 4C in a letter dated 5 February 2015.
- The Company will have sufficient cash to fund its activities by reducing corporate overheads and continuing its current strategy to pursue the exercise of the option over the Malaysian property projects.
The Company has expended a material amount of resources and time to pursue these options which are currently progressing through the Malaysian government approval process. Therefore the Company is closely monitoring the situation pending the outcome of governmental process and engaging frequently with its consultants based in Kuala Lumpur Malaysia, including travel to Malaysia.
In addition, RM Corporate Finance Pty Ltd has undertaken to cover the Company’s creditors until the Company’s next capital raising which is currently been undertaken by RM Corporate Finance Pty Ltd, to ensure it has the funds available to pursue the Company’s strategy as outlined above.
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The Company is currently undertaking a capital raising process which is being lead managed by RM Corporate Finance Pty Ltd.
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The Company’s Appendix 4C matches the Company’s anticipated revenue and expenses due to the monitoring and approval phase of the Malaysian government approval process.
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Not applicable.
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Please refer to (1) above.
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The Company confirms it in compliance with the ASX Listing Rules including listing rule 3.1.
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The Company is currently in compliance with Listing Rule 12.2. The Company’s last set of financial statements 30 June 2014 demonstrated a positive net asset position in addition to the Company’s ability to raise further funds as described in (1) and (2) above.
Regards
Soil Sub Technologies Limited ACN: 078 388 155 Postal Address: PO Box 154 Perth WA 6872 Contact Number: 08 6380 9200
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Keong Chan Company Secretary
Soil Sub Technologies Limited ACN: 078 388 155 Postal Address: PO Box 154 Perth WA 6872 Contact Number: 08 6380 9200
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ASX Compliance Pty Limited ABN 26 087 780 489 Level 40, Central Park 152-158 St Georges Terrace PERTH WA 6000 GPO Box D187 PERTH WA 6840
Telephone 61 8 9224 0000 www.asx.com.au
5 February 2015
Keong Chan Company Secretary Soil Sub Technologies Limited 143 Hay Street SUBIACO WA 6008
- By email: k.chan@lionbridge capital.com
Dear Keong
Soil Sub Technologies Limited (the “Company”)
I refer to the Company’s Quarterly Report in the form of Appendix 4C for the period ended 31 December 2014 , released to ASX Limited ("ASX") on 30 January 2015 (the “Appendix 4C”).
ASX notes that the Company has reported the following.
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Receipts from customers of nil.
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Net negative operating cash flows for the quarter of $3,000.
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Cash at end of quarter of $2,000.
In light of the information contained in the Appendix 4C, please respond to each of the following questions.
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It is possible to conclude on the basis of the information provided that if the Company were to continue to expend cash at the rate for the quarter indicated by the Appendix 4C, the Company may not have sufficient cash to fund its activities for the next quarter. Is this the case, or are there other factors that should be taken into account in assessing the Company’s position?
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Does the Company expect that in the future it will have negative operating cash flows similar to that reported in the Appendix 4C for the quarter and, if so, what steps has it taken to ensure that it has sufficient funds in order to continue its operations at that rate?
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To what extent have the Company’s actual revenues and expenses in the quarter, as reported in the Appendix 4C, matched the Company’s anticipated revenues and expenses for that reporting period?
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If the Company’s actual revenues and expenses are not substantially in accordance with the Company’s anticipated revenues and expenses, when did the Company become aware that its revenues and expenses would not substantially match the anticipated revenues and expenses? You may wish to outline any circumstances that may have had an effect on the Company’s revenues and expenses.
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What steps has the Company taken, or what steps does it propose to take, to enable it to continue to meet its business objectives?
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Can the Company confirm that it is in compliance with the listing rules, and in particular, listing rule 3.1?
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Please comment on the Company’s compliance with listing rule 12.2, with reference to the matters discussed in the note to the rule.
Listing rule 3.1
Listing rule 3.1 requires an entity to give ASX immediately any information concerning it that a reasonable person would expect to have a material effect on the price or value of the entity’s securities. The exceptions to this requirement are set out in the rule.
In responding to this letter you should consult listing rule 3.1 and the guidance note titled “Continuous disclosure: listing rule 3.1”.
If the information requested by this letter is information required to be given to ASX under listing rule 3.1 your obligation is to disclose the information immediately.
Your responsibility under listing rule 3.1 is not confined to, or necessarily satisfied by, answering the questions set out in this letter.
This letter and your response will be released to the market. If you have any concerns about your response being released, please contact me immediately. Your response should be sent to me by email to [email protected]. It should not be sent to the Market Announcements Office.
Unless the information is required immediately under listing rule 3.1, a response is requested as soon as possible and, in any event, not later than half an hour before the commencement of trading (6:30 am WST) on Monday, 9 February 2015 .
If you are unable to respond by the time requested you should consider a request for a trading halt in the Company’s securities.
If you have any queries regarding any of the above, please contact me on 9224 0053.
Yours sincerely,
[sent electronically without signature]
Sebastian Bednarczyk Senior Adviser, Listings Compliance (Perth)
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